New Gold (NYSE:NGD) Issues Quarterly Earnings Results

New Gold (NYSE:NGD) issued its quarterly earnings data on Tuesday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04, Zacks reports. The company had revenue of $252.00 million during the quarter. New Gold had a return on equity of 8.56% and a net margin of 2.33%.

New Gold Stock Performance

NYSE:NGD traded up $0.04 during mid-day trading on Friday, hitting $2.79. 7,524,069 shares of the company’s stock traded hands, compared to its average volume of 8,135,794. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.21 billion, a P/E ratio of 136.75 and a beta of 1.30. The business has a 50 day simple moving average of $2.81. New Gold has a 1 year low of $1.09 and a 1 year high of $3.25.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. CIBC upped their price objective on New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Scotiabank lifted their target price on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, New Gold presently has an average rating of “Buy” and a consensus price target of $3.08.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.